TotalEnergies has sold a 40% interest stake in Block 20 in the Kwanza Basin, offshore Angola, to Petronas. The transfer of the stake cost Petronas US$400m as of 1 January 2023, with the amount still being subject to customary price adjustments.
The operator of the block remains TotalEnergies, which still holds a 40% stake in the project. The remaining 20% are owned by Sonangol.
Block 20, located approximately 150km away from Luanda, features the Cameia and Golfinho oil discoveries. The block is planned to be developed with a floating production, storage and offloading (FPSO) unit, TotalEnergies' seventh FPSO in Angola.